First Sponsor Group Ltd (SG:ADN) has released an update.
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First Sponsor Group Limited has entered into a governance and shareholder relationship agreement with NSI N.V., following its acquisition of a 14% shareholding in NSI. The agreement grants First Sponsor Group the right to propose a member to NSI’s Supervisory Board, with their CEO, Mr. Neo Teck Pheng, being the nominee for a four-year term. This strategic move could significantly impact the Group’s financials positively, depending on the NSI General Meeting’s approval and subsequent accounting treatment changes.
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